Businessman who gave loan to Rajpal Yadav recalls ‘crying like child’ for repayment; says he borrowed money from bank

ON 17 feb, doer Rajpal Yadav walked come out of new delhi’s Tihar pokey after he was granted interim bail by the Delhi High Court in a ₹9 crore debt and cheque-bounce case. The businessman and owner of Murali Projects Pvt Ltd, Madhav Gopal Agarwal, who had loaned ₹5 crore to the actor, opened up about how it all started and recalled crying in front of the actor to get his money back.Madhav Gopal Agarwal recalls what led to legal crisis with Rajpal YadavIn an interview with News Pinch, the businessman revealed that Rajpal Yadav approached him through MP Mithilesh Kumar Katheria and insisted that his film was nearly complete and that if he did not receive immediate funding, “everything will go to waste”. Madhav said he initially hesitated because he did not run such a large business or work in finance. However, he claimed that Rajpal’s wife then messaged him for four to five days, which emotionally pressured him. After an agreement of ₹8 crore, he loaned them the money.The businessman said that Rajpal and his wife, Radha, also gave a personal guarantee and a promissory note. He clarified that it was strictly a loan and not an investment, noting that investments typically do not involve personal guarantees or post-dated cheques.When the repayment date approached, the businessman contacted Rajpal, who allegedly told him that he did not have the funds as the film was still incomplete. This led the businessman to draft a supplementary agreement in 2012. He added that the actor then issued new cheques with revised dates, and in this manner, the supplementary agreement was made three times.However, when the businessman saw Amitabh Bachchan launch the music of Ata Pata Laapata, he realised that the film's negative publicity was to be used as collateral and that Rajpal had to repay the money before the film’s release. They then sought a stay on the film. However, according to the businessman, Rajpal later assured him that repayment would only be possible after the film was released in theatres, so he had the stay order lifted. The film, however, failed at the box office.He added, “In 2013, he filed an application in the Delhi High Court asking if Murli Projects could settle the matter for ₹10.40 crore. The High Court asked us if we could agree, and since a significant amount was due as per the agreement, we thought whatever money comes in is fine, and we gave our consent. Rajpal then submitted cheques in the Delhi HC, and they were handed over to us. But all those cheques (seven cheques) bounced.”The businessman further said, “During the mediation in 2015, I even said, please give my money in one go and we’ll forget everything that happened. But he said he couldn’t pay it in one go. I even went to his house in Mumbai three to four times and twice I literally cried like a child because I had also borrowed money from someone else. We are also paying interest to the bank.”All about the debt caseThe trouble began in 2010 when Rajpal took a loan of ₹5 crore from Delhi-based Murali Projects Pvt Ltd to fund his directorial debut, Ata Pata Laapata (2012). Due to the film’s failure at the box office, the actor failed to repay the amount, leading to a legal crisis. After seven cheques issued to the complainant bounced, the actor was sentenced to six months’ imprisonment. However, on Monday, the Delhi High Court suspended Rajpal’s sentence until 18 March, subject to a ₹1 lakh bail bond and the deposit of ₹1.5 crore with the complainant.